Coated paper manufacturer Sarda Papers has sold its factory land and building at Sinnar in Maharashtra to baby diaper and adult incontinence product manufacturer Nobel Hygiene Pvt Ltd, it said on Thursday. The deal amount remains undisclosed.
An email query sent to Nobel Hygiene's spokesperson to know the plans with this acquisition and more, did not elicit any response till the time of filing this article.
Mumbai-based Nobel Hygiene was founded in 2000. It manufactures products like adult diapers, maternity pads, adult pull-ups, under pads, nappy pads and baby diapers. the company sells its baby diapers under Teddyy brand while the adult incontinence products are sold as Friends.
In February this year, alternative asset management firm CLSA Capital Partners invested $10 million in the company.